Happy Wednesday to you all. As you already know, Wednesdays are for our spotlight series, and this week, the majority of you voted for ….. The proof of staker!
With the Ethereum Merge ready to happen in just a few weeks, is it safe to assume that this may have influenced your votes?
We are excited about the merge too.
The Proof of Staker is a LOCGame character inspired by the legends and crypto enthusiasts who favour the Proof of Stake consensus mechanism over the Proof of Work consensus mechanism, but there’s more to him. Let’s find out.
The Proof of Staker is an OG in the Crypto community. As a software engineer, he took a particular interest in blockchain technology quite early on and has worked on developing several blockchain and cryptocurrency projects.
He has always been an active member of the community and several online forums. In 2012, he earned his first Bitcoin reward as a miner.
As the bitcoin mining process advanced and became more capital intensive for individual miners, he joined a mining farm to keep up. As more mining farms were created, he began to realize that this could eventually lead to the centralization of the blockchain and the associated security risks.
He was also concerned about the increasing danger to the climate and the environment resulting from excessive power consumption by proof of work systems. Because of this, he moved away from bitcoin mining and proof of work systems. He fully adopted the more energy-efficient proof of stake. As a staker, he participates in the validation of blockchain transactions by staking some cryptocurrencies for a chance to be selected as a validator. He makes money from the reward he receives from validating block transactions.
Today, he prefers to work with proof of stake systems like Solana, Cardano, Tezos, Polkadot and Cosmos. He has signed up to become one of the validators on Ethereum as the network is looking to fully transition into a proof of stake system.
Today, he is a passionate advocate for proof of stake and firmly believes that it will continue to preserve the integrity and security of blockchain technology.